Balance Transfers – Frequently Asked Questions
Which banks can I balance transfer to?
Many balance transfer credit cards have limitations regarding the source of debt that can be transferred. Below is a handy table you can use to discover where you may be able to transfer to or from. Note that some brands may change card issuers from time to time which will change the balance transfer restrictions. Always confirm with the card issuer prior to requesting a balance transfer.
Transferring from: | Cannot transfer to: |
---|---|
American Express | American Express |
ANZ | ANZ |
Bank of Melbourne | Bank of Melbourne, BankSA, St.George |
Bank of Queensland (BOQ) | BOQ, Citi, IMB, Suncorp, Virgin Money |
Bank SA | BankSA, St.George, Bank of Melbourne |
Bankwest | Bankwest |
Citi | Citi, Coles, IMB, Suncorp, Qantas Money, Virgin Money |
Coles | Coles, Citi, IMB, Suncorp, Virgin Money |
IMB | IMB, Citi, Coles , Suncorp, Virgin Money |
Jetstar | Jetstar, Myer, Macquarie |
Myer | Myer, Jetstar, Macquarie |
NAB | NAB |
Qantas Money | Qantas Money, Citi, Coles, IMB, Suncorp, Virgin Money |
Suncorp | Suncorp, Citi, Coles , IMB, Virgin Money |
Virgin Money | Virgin Money, Citi, Coles , IMB, Suncorp |
Westpac | Westpac |
What is a balance transfer offer?
A balance transfer offer is and introductory interest rate applied to the balance transfer amount due to be transferred to the card for a set period of time. Offers may include a balance transfer fee and are generally only available when transferring from a different credit card provider. Other transactions are subject to the purchase rate.
Compare credit cards with great balance transfer offers here
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